Cheniere Energy Inc 2025年季度报告

For the transition period from Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an in Rule 12b-2 of the Exchange Act.Large accelerated filer☒Accelerated filer☐ Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ Part I. Financial InformationConsolidated Financial StatementsConsolidated Statements of Operations Note 4—Property, Plant and Equipment, Net of Accumulated Depreciation Natural Gas Act of 1938, as amendednon-FTA countriescountries with which the United States does not have a free trade agreement providing for national treatment for expansion projects to provide additional liquefaction capacity at both the SPL Project and the CCL Project (collectively, the“LiquefactionProjects”), and we are commercializing to support the additional liquefaction capacity associated with these potential expansion projects.The development of these projects or other projects, including infrastructure projects in support of natural gas supply and LNG demand, will Computer software 23Accumulated depreciation(192)Total fixed assets and other, net of accumulated depreciation72 Accumulated depreciation(123)Total assets under finance leases, net of accumulated depreciation701Property, plant and equipment, net of accumulated depreciation$34,177$ The following table shows depreciation expense and offsets to LNG terminal costs (in millions):Three Months Ended March 31,20252024 Depreciation expense$310$Offsets to LNG terminal costs (1)48We recognize offsets to LNG terminal costs related to the sale of commissioning volumes because these amounts were earned or NOTE5—DERIVATIVE INSTRUMENTS We have the following derivative instruments:•commodity derivatives consisting of the following (collectively,“Commodity Derivatives”): ◦natural gas and power supply contracts, including those under our IPM agreements, for the development, commissioningand operation of the Liquefaction Projects and expansion projects, as well as the associated economic hedges(collectively, the“Liquefaction Supply Derivatives”); and,◦LNG derivatives in which we have contractual net settlement and economic hedges on the exposure to the commodity •Foreign currency exchange (“FX”) contracts to hedge exposure to currency risk associated with cash flows denominated in currencies other than U.S. dollar (“FX Derivatives”), associated with both LNG Trading Derivatives and operations in countriesoutside of the United States.The following table shows the fair value of our derivative instruments that are required to be measured at fair value on a recurring in ActiveMarkets(Level 1)ObservableInputs(Level 2)UnobservableInputs(Level 3)Totalin ActiveMarkets(Level 1)ObservableInputs(Level 2) LNG Trading Derivatives assetFX Derivatives asset present value techniques, as needed, which incorporates observable commodity price curves, when available, and other relevant data. Wevalue our FX Derivatives with a market approach using observable FX rates and other relevant data. unavailable, consideration is given to the assumptions that market participants may use in valuing the asset or liability. To the extent valuedusing an option pricing model, we consider the future prices of energy units for unobservable periods to be a significant unobservable input to estimated net fair value. In estimating the future prices of energy units, we make judgments about market risk related to liquidity ofcommodity indices and volatility utilizing available market data. Changes in facts and circumstances or additional information may result inrevised estimates and judgments, and actual results may differ from these estimates and judgments. We derive our volatility assumptionsbased on observed historical settled global LNG market pricing or accepted proxies for global LNG market pricing as well as settled In developing our volatility assumptions, we acknowledge that the global LNG industry is inherently influenced by events such as unplanned supply constraints, geopolitical incidents, unusual climate events including drought and uncommonly mild, by historicalstandards, winters and summers, and real or threatened disruptive operational impacts to global energy infrastructure. Our current estimate ofvolatility includes the impact of otherwise rare events unless we believe market participants would exclude such events on account of their our fair value estimates incorporate market participant-based assumptions pertaining to certain contractual uncertainties, including thoserelated to the availability of market information for delivery points, as well as the timing of satisfaction of certain events or development of Settlements (5)Transfers out of level 3 (6) Balance, end of period Gain (Loss) Recognized in Consolidated Statements of OperationsConsolidated Statements ofOperations Location (1)Three Months Ended March 31,20252024 LNG Trading Derivati